Washington/New Delhi, April 4: A new investigation by the International Consortium of Investigative Journalists (ICIJ) and more than 100 other news organisations around the globe reveals the offshore links of some of the planet’s most prominent people, including over 500 from India.
“In terms of size, the Panama Papers is likely the biggest leak of inside information in history – more than 11.5 million documents – and it is equally likely to be one of the most explosive in the nature of its revelations,” the consortium said of its investigation published Sunday.
In India, the Indian Express ran several pages of the investigation reports alleging among other names that Hindi film superstars Amitabh Bachchan and Aishwarya Rai were directors in companies in Panama. The two did not immediately respond despite efforts to contact them. Rai’s media adviser told the newspaper that the information was false.
In 2004, India legally allowed investments abroad by companies, and later individuals, through the Liberalised Remittance Scheme.
Also named were Sameer Gehlaut of India Bulls, for properties owned by Bahamas, Jersey and the United Kingdom, and KP Singh of DLF about companies registered in British Virgin Islands. Vinod Adani, elder brother of industrialist Gautam Adani and politician Shishir Bajoria from West Bengal and Anurag Kejriwal of Loksatta Party were also alleged to have set up companies in tax havens. Bajoria told the paper that that “erroneous beneficial owner information” was given by mistake.
The Express said it had carried out the investigations spread over eight month with several global newspapers. Many of the other persons named in the Express reports responded, some denying while others maintaining that they had worked within the laws of the country.
Agencies
